New Financial Services Bill published

The Chancellor George Osborne has revealed details about the Financial Services Bill that will overhaul regulation of the sector.

It will give the Chancellor the power to veto decisions made by the Bank of England when dealing with bank bailouts and other interventions.

The bill will replace the so-called Tripartite structure, introduced by the previous Labour government.

FSA's 2012 Business Risk Awareness Workshops

The FSA are now progressing with their final round of ‘housekeeping’ before they are abolished and replaced by the FCA.   The Regional Assessment Programme consists of Business Risk Awareness Workshops (BRAW) to which all small firms with retail clients will be invited, and then a follow-up regulatory review, called the Proactive Regulatory Review will be conducted with the firm.